Business - Annual Profit Function
Scenario:Annual profit in thousands of dollars is given by the function, P(x) = 12x - 100, where x is the number of items sold in thousands, x ≥ 10.
1.describe the meaning of the number 12 in the formula, in terms of its meaning in relation to the profit.
2.describe the meaning of the number -100 in the formula, in terms of its meaning in relation to the profit.
3.find the profit for 5 different values of x
4.graph the profit function over its given domain; use the 5 values calculated in part 3 to construct the graph and connect these points with a straight line in Excel or another graphing utility. Insert the graph in a Word file and attach the graph in a Word file to the class DB thread.
5.will this profit function have a maximum, if so, what is it?
6.what steps should the company take to prepare for your answer to part 5?